Power Integrations Receives NASDAQ Notice Regarding Delayed Filing of Form 10-Q
Power Integrations Inc. announced that, as expected, it has received an additional Staff Determination notice from the Nasdaq Stock Market stating that the company is not in compliance with Marketplace Rule 4310(c)(14) because it has not filed Form 10-Q for the quarter ended September 30, 2006. Such notice is customarily issued to NASDAQ-listed companies when required periodic filings are not made on a timely basis.
As previously announced, the NASDAQ Listing and Hearing Review Council has granted Power Integrations an exception until December 18, 2006 to file its outstanding annual and quarterly reports and thereby regain compliance with NASDAQ Marketplace Rules. Should the company be unable to regain compliance by December 18, its shares would be subject to delisting from the NASDAQ Global Market.